Profit before tax in Q4 FY24 stood at Rs 178.12 crore, up by 6.27% from Rs 167.60 crore posted in Q4 FY23.

On a standalone basis, the company's net profit jumped 13.62% YoY to Rs 132.54 crore in Q4 FY24. Revenue from operations increased 3.37% to Rs 1,278.13 crore for the quarter ended 31 March 2024 as against Rs 1,236.39 crore recorded during the same period in the previous year.

The domestic sales for the quarter ended 31 March 2024, were at Rs 846.26 crores as against Rs 822.25 crores during the previous year, up 2.92%.

The company has registered export of Rs 385.28 crore for the quarter ended March 31, 2024, up 13.60% QoQ and up 1.18% year on year.

EBITDA grew by 9.52% to Rs 220.80 crore in Q4 FY24 as compared with Rs 201.60 crore posted in Q4 FY23. The EBITDA margin improved to 17.3% in Q4 FY24 as against 16.3% recorded during the same period in the previous year.

The company’s has incurred Rs 343.45 crore towards capital expenditure as part of capacity expansion of existing lines of business and new projects. These investments will significantly enhance the company’s capability to meet customer demands in various segments, ICE vehicles, PHEVs, EVs, etc. The company has financed the entire capital expenditure programme out of internal accruals without any incremental borrowings and the company has transferred Rs 200 crore to Reserves.

Meanwhile, the Sunfast TVS and TVS Engineering, two wholly owned subsidiaries of the company, were merged with the company after approval from the Hon'ble National Company Law Tribunal, Chennai bench.

Further, the company’s board has declared a second interim dividend of Rs 4.17 per share for the financial year 2023- 2024.

Chennai-based Sundram Fasteners makes high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, tappets, iron powder, powertrain components and sub-assemblies.

The scrip declined 1.62% to currently trade at Rs 1,163.10 on the BSE.